Seller doesn’t want to move
After looking at homes forever, and writing offers where we missed out either to cash buyers or by just a few thousand dollars, we finally got an offer accepted. Now we are nearly ready to close but the seller has just decided that they won’t move out the day we close the escrow. They are demanding an additional two days. None of this has been a pleasant experience and I am worried that they won’t move out in those two days. I really want them to move the day we close. What happens if the seller doesn’t move?
First, take a look at your contract (Residential Purchase Agreement and any Counter Offers). If the contract indicates that possession to the buyer is at close of escrow, the seller cannot arbitrarily change the terms of your contract without your agreement. Assuming your contract states that they would vacate at closing, you can refuse to agree to this change in terms.
Have your real estate agent inform their Realtor® (in writing) that you expect them to honor the terms of the written contract. However, in order to force the seller to abide by the contract you might need to hire a real estate attorney.
Sometimes during escrow, it is simpler to make concessions so that emotions and details move smoothly, but this is your call. If you do agree to the additional time, insist that the seller pays your cost (Daily PITI: Principal, Interest, Taxes and Insurance).
Prior to agreeing to any additional time for the seller to remain in the home, run it by your insurance carrier. If you do allow the seller the extra time, be sure to have your Realtor prepare a Seller in Possession form and ensure they sign it.
When you conduct your final walk through, you of course want to see signs that the seller is moving (packed boxes, etc.). Keep in mind that whether they agree to move out the day escrow closes or two days from then, if they don’t move as agreed, it’s the same result: an eviction attorney.
Call Phyllis @ 818 790-7325 or email her at Phyllis@RealtorHarb.com with your real estate questions.